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Property profile & analytics
OFF-MARKET
Medical Office Space
226 Ft Ln Portsmouth, VA 23704-2220
Entity Owned
6-yr Hold
Free & Clear
Property ID
US87-0029617
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1964
Construction
BRICK
Total area
4,719 SF
Lot
0.38 ac (16,553 SF)
Zoning code
HLO
APN
0028-0640
UPID
US87-0029617
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Damron William Fle OD Physician
-
James V. Cornetta, OD Physician
-
Laura Li Physician
-
William Damron Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Rg East LLC · 6 yrs held
Rg East LLC
since 2019
2 recorded transactions
Zoning & alternative use
HLO · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Portsmouth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portsmouth submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,229
Tax year 2023
Assessed value
$409,420
Assessed 2023
Previous assessed
$409,420
+0.0% YoY
Effective rate
1.52%
On assessed value
Assessed land
$81,350
Assessed improvement
$328,070
Land market value
$81,350
Improvement market value
$328,070
Total market value
$409,420
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1964
Construction
BRICK
Heating
OTHER
Cooling
YES
Stories
1
Bathrooms
5
Total area
4,719 SF
Lot
0.38 ac (16,553 SF)
Zoning code
HLO
APN
0028-0640
UPID
US87-0029617
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
HLO · Portsmouth, VA
Zoning HLO · permitted uses
HLO · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portsmouth. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1964
Construction
BRICK
Heating
OTHER
Cooling
Yes
Stories
1
Bathrooms
5
Lot
0.38 ac
Current owner
From public records · entity-resolved
Rg East LLC
Entity
Free & Clear · 6 yrs held
Mailing address
2341 HAVERSHAM CLOSE, VIRGINIA BEACH, VA 23454-1154
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2019
$617,000
Rg East LLC
Cornetta Real Estate LLC
Grant Deed
—
Sep 28, 2006
$445,000
Cornetta Real Estate LLC
Prater Rouse Gallery LLC
Grant Deed
$550,000 · Towne Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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